The local currency instability and tax hikes have forced the car industry to increase prices. Recently, various major carmakers including Kia, Peugeot, Toyota, Haval, etc. increased the prices of their vehicles by considerable margins, with other carmakers to follow soon.
Although there is one carmaker that has decided to swim against the current, despite the ongoing economic turmoil. The automaker in question is MG.
According to a recent update, MG has decided not to increase the price of HS Essence for now. This is interesting MG HS is also subject to the 7% increase in General Sales Tax (GST).
A Bold Yet Smart Tactic
It is well known that SUV demand has skyrocketed in Pakistan in the past few years. However, due to the price and tax rate hikes, the demand has been stifled.
MG has played a master stroke by not increasing the prices of its star SUV for now, which will likely attract buyers in droves. The current price of MG HS Essence is almost Rs. 8.2 million. In comparison, its competitors cost more after the GST hike.
While MG did not mention the expiration date of this step, it will likely conclude by the end of next month. Regardless, it is a great opportunity for MG lovers to book the HS and an even better opportunity for MG to enhance its market share.
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